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Larry Summers Fed

Clinton: Image Of Summers As 'A One-Note Johnny' Is 'Ludicrous'

The Huffington Post | Paige Lavender | Posted 09.23.2013 | Politics

Former President Bill Clinton stood up for former Treasury Secretary Larry Summers, who recently withdrew his name from consideration for Federal Rese...

Have No Doubt, Markets Depend on the Fed

Mohamed A. El-Erian | Posted 11.18.2013 | Business
Mohamed A. El-Erian

This week should remove any doubt about whether markets are highly dependent on the Fed. They sure are. Indeed, you could not have constructed better conditions for a controlled experiment. Yet, ironically, the medium-term investment stakes are now higher.

Yellen Now Fed Chair Front Runner, WSJ Reports

The Huffington Post | Ashley Alman | Posted 09.17.2013 | Politics

Federal Reserve Vice Chair Janet Yellen is now the front-runner for the chair nomination, sources told the Wall Street Journal on Monday. This com...

Mark Gongloff

Here's Why Wall Street Is Cheering Larry Summers' End

HuffingtonPost.com | Mark Gongloff | Posted 09.16.2013 | Business

Larry Summers may be a creature of Wall Street, but Wall Street didn't want him. News of Summers' withdrawal from the race to be the next Federal R...

Summers' End

Robert Kuttner | Posted 11.15.2013 | Politics
Robert Kuttner

Looking backwards at this debacle, it's clear that Obama's economic team did not serve him well, either substantively or tactically. Summers as chair of the Fed was always going to be a lightning rod, because of his temperament, his sketchy record as president of Harvard, his close association with the deregulation that invited the financial collapse, and the high-profile consulting gigs on Wall Street that he took since leaving government in 2010. Tactically, what unfolded in August and September was bizarre. Instead of the administration vetting Summers for hidden confirmation problems, deciding that he was an acceptable risk, and Obama announcing the appointment, what we got was a slow drip of leaks that Summers was the president's first choice. But that only served to rally Summers' opposition. It would have been much more difficult for opposition within the Democratic Party to fester if Obama had simply announced his choice.

Summers Withdraws From Consideration for Fed Post -- So... What Do We Want From the Next Fed Chair?

Jared Bernstein | Posted 11.15.2013 | Business
Jared Bernstein

As I said all along, we have had two strong candidates. Let's hope the president now turns to Janet Yellen, who I believe would make an excellent Fed chairperson.

U.S. Stock Futures Advance After Summers Withdraws

Reuters | Posted 11.15.2013 | Business

Sept 15 (Reuters) - U.S. stock futures advanced and futures for the U.S. Treasury 10-year note gained late Sunday after Lawrence Summers withdrew hi...

5 Years After Lehman, Americans Still Angry At Wall Street

Reuters | Posted 11.15.2013 | Business

By Michael Erman NEW YORK, Sept 15 (Reuters) - A few years ago, Larry Summers, then the director of President Barack Obama's National ...

Zach Carter

Another Democrat Comes Out Against Larry Summers As Fed Chair

HuffingtonPost.com | Zach Carter | Posted 09.13.2013 | Politics

WASHINGTON -- Sen. Jon Tester (D-Mont.) will vote against Larry Summers if President Barack Obama nominates his former economic adviser to head the Fe...

Jon Ward

Leading GOP Senator Opposes Larry Summers' Nomination

HuffingtonPost.com | Jon Ward | Posted 09.12.2013 | Politics

WASHINGTON -- John Cornyn, the number two Republican in the Senate, would oppose Larry Summers if he were nominated to chair the Federal Reserve, Corn...

GOP Senator Has 'Some Reservations' About Summers

Reuters | Posted 11.11.2013 | Politics

By Rachelle Younglai WASHINGTON, Sept 10 (Reuters) - Republican Senator Johnny Isakson on Tuesday expressed concerns about the potenti...

White House Not Yet Vetting Janet Yellen For Fed Chair: Report

Reuters | Posted 10.28.2013 | Politics

By Mark Felsenthal and Jonathan Spicer WASHINGTON/NEW YORK, Aug 28 (Reuters) - The White House has yet to begin vettin...

Obama May Need Republican Help If He Picks Summers For Fed

Reuters | Posted 10.27.2013 | Politics

* Democrats on banking committee could pose hurdle * Yellen would likely face easier path to confirmation * Republicans ...

Mark Gongloff

Larry Summers Defended Enron

HuffingtonPost.com | Mark Gongloff | Posted 08.05.2013 | Business

Here's something else to add to the long list of reasons Larry Summers would make a terrible Federal Reserve chairman: He reportedly told California t...

Mark Gongloff

Larry Summers Is Also Lousy At Crisis Management

HuffingtonPost.com | Mark Gongloff | Posted 08.02.2013 | Business

In answer to the question, "Why on earth should Larry Summers be chairman of the Federal Reserve?" his supporters usually allege that he is great in a crisis. Whether you believe that depends on your definition of "great." In fact, there is plenty of evidence that Larry Summers is actually kind of terrible in a crisis.

Geithner Turned Obama Down For Fed Consideration: Report

Posted 08.02.2013 | Politics

President Barack Obama approached former Treasury Secretary Timothy Geithner about succeeding Ben Bernanke as chairman of the Federal Reserve, the New...

Sam Stein

Everyone Has An Opinion On Larry Summers

HuffingtonPost.com | Sam Stein | Posted 08.02.2013 | Politics

WASHINGTON -- President Barack Obama says his former top economic adviser and prospective nominee for Federal Reserve Chair Larry Summers has been mis...

The Bungled Coronation of Larry Summers

Robert Kuttner | Posted 09.27.2013 | Politics
Robert Kuttner

A week ago, a carefully orchestrated series of leaks signaled that President Obama was on the verge of naming Larry Summers to succeed Ben Bernanke as chair of the Federal Reserve. Now, a massive backlash from Senate Democrats makes Summers' appointment something of a long shot.

Warren Reportedly Backs Yellen To Lead Fed

The Huffington Post | Paige Lavender | Posted 07.29.2013 | Politics

Sen. Elizabeth Warren (D-Mass.) has signed a letter backing Janet Yellen to lead the Federal Reserve, the Boston Globe reports. The Globe reports o...

Campaign Against Summers Gains Momentum

Reuters | Posted 09.25.2013 | Politics

* Liberal Democrats push back, wary of Wall Street ties * Group of Senate Democrats throws support to Yellen ...

Alan Greenspan Is Back, and He Looks a Lot Like Larry Summers

Sanjay Sanghoee | Posted 09.24.2013 | Business
Sanjay Sanghoee

As a man mired so deeply in Greenspan Economics, Summers is simply not capable of recognizing the dangers of letting the banking industry run fast and loose, or of grasping the wisdom of regulated capitalism.

Jason Linkins

Surely The Obama Administration Is Joking About This 'Have Larry Summers Run The Federal Reserve' Thing!

HuffingtonPost.com | Jason Linkins | Posted 07.25.2013 | Politics

Way way back at the end of this period of time that we like to call "the 1990s," Time magazine featured Alan Greenspan, Robert Rubin, and Larry Summer...

Zach Carter

Democrats Worry Obama's Fed Nomination May Skip 'Steady' And 'Right' Economist For Larry Summers

HuffingtonPost.com | Zach Carter | Posted 07.25.2013 | Politics

WASHINGTON -- Leading Democrats are struggling with the idea that President Barack Obama may actually nominate economist Larry Summers to head the Fed...

Ryan Grim

Will Larry Summers Be Named Fed Chairman?

HuffingtonPost.com | Ryan Grim | Posted 07.24.2013 | Politics

WASHINGTON -- President Barack Obama is leaning towards former White House Economic Adviser Larry Summers as his choice to replace Ben Bernanke as cha...

Breaking the Glass Ceiling at the Federal Reserve

Robert Kuttner | Posted 09.20.2013 | Politics
Robert Kuttner

Larry Summers is running hard to succeed Ben Bernanke as chairman of the Federal Reserve. This is a terrible idea. Once appointed chief of economic policy, Summers with Tim Geithner was a prime architect of propping up and bailing out the biggest banks, rather than cleaning them out and altering the conflicts of interest at the core of Wall Street's business model. Today, the banks are more highly concentrated, more profitable, and less in the business of financing the real economy than ever. This is Larry Summers' legacy. The prime alternative to Summers is Fed Vice Chair Janet Yellen, who is very much like Bernanke, only better. She has gone even further in expressing concern for the economy's persistent unemployment and in criticizing the bipartisan obsession with deficit reduction. Yellen deserves to be Fed chair purely on the merits. It pains me to write that if she gets the job, one other major contrast with Summers will weigh in her favor. She is female.